I’ve been asked my one of my good longstanding landlords to sell his two apartments that my team have managed for over 7 years.
The landlord in question is now looking to retire and has been advised by his financial planner that he should sell the properties. The problem he faces is that he has two excellent mature longstanding tenants who call his properties, their home and he does not want them being disturbed or evicted. He has requested that I offer this property to my blog readers and also to my investors/landlords who would purchase the property with the tenants in situe and remain to leave the tenants with quiet enjoyment in the properties.
One property is a three bedroom apartment that has been occupied by the current tenant since December 2010 and he is currently paying a rent of £5,760 per annum. As the property is a leasehold, then it has 101 years remaining on the lease and the service charge (including the insurance) is £616.44 per annum.
The second property is a two bedroom apartment that has been occupied by the current tenant since August 2007 and she is currently paying a rent of £5,100 per annum. As this is also a leasehold, then it has 88 years remaining on the lease and the service charge (including the insurance) is £521.76 per annum.
The landlord has requested that I offer the properties below market value so that we can secure the right purchaser who will look after his tenants. The properties are to be sold for £130,000 for both of them and with both properties generating an annual rental income of £10,860, then this investment offers a gross yield of 8.35%. Once the service charge has been deducted, then this reduces the yield to 7.5%, which I feel is fantastic yield for a hands off investment.
This investment is suitable for first time investors or well experienced landlords as it is returning a high yield with two longstanding tenants who should remain in the property for many many years to come.
Click here to view a list of current two bedroom apartments available for sale. There are currently no 3 bedroom apartments available but click here to view a list of sold prices for properties on this road for both 2 and 3 bedroom apartments.
All the buildings on this road all benefited from new UPVC windows, new roofs, front and rear gardens where landscaped and are looked after on a regular basis. The communal areas have also received investment and have been fully refurbished.
If you want further information about the properties and the tenants, then contact me on 0151 231 1613 (option 1) or email@example.com